Genentech and CGI Pharmaceuticals Enter Into Agreement
Although not a merger or acquisition, this recent deal between Genentech and CGI Pharmaceuticals is still part of the activity in deals and mergers recently.
It is interesting that the deal seems to be broad in scoop covering discovery, development and manufacturing activities but more interesting is that the target has not been announced, only that it is in the area of oncology and autoimmune disorders. It is interesting not so much for what is says, but in the lack of details.
It includes a $25 million upfront payment and could come to $500 million if defined milestones are met over the next few years (the time frame was not spelled out).
Disclosure: I own a few shares of Genentech.
Technorati Tags: Genentech, pharmaceutical deals, CGI Pharmaceuticals
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